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tv   Varney Company  FOX Business  October 5, 2017 9:00am-12:00pm EDT

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maria: see you tomorrow, everybody. here is stuart varney. stu. stuart: four days since the mass killing, we do not know why he did but congress is moving to ban the device that helped him do it. the left wants gun control and it looks like some republicans will oblige. they are called pump stocks, capable of rapid fire. paddock used this device for mass killing. it's getting support from both sides of the aisle. details, chilling new details emerging. paddock's bullets hit jell fuel storage tanks in nearby airport.
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unarmed security guard that helped confirm the shooter's room. paddock shot lu the door wounding him in the leg. paddock then shot 200 rounds in the hallway holding up the police until the swat team arrived and blew up the door and found the shooter dead. why did he do it, we still don't know. next headline. $4,940,000,000,000, that's how much the value of all stocks has gone up since the election. another one, we are only 338 points away from dow 23,000 and guess what, we will go up a little more when the market opens up today. varney&company is about to begin ♪ ♪ stuart: all right, come on in jeff flock, live in las vegas. jeff, we understand -- there's some talk about the shooter planning an escape that he would
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survive this? give me the story. jeff: the authorities think because he placed the camera out in the hallway outside his door that he could see from the inside, that that may have been his plan to see if the coast was clear after the initial attack so that he could get down to his car which had in it materials that could have been used to make explosives. that's the theory and they don't know and they may never know whether he intended to escape or not but clearly he did not. the other one that's a bombshell of a bit to me is the thought that there could be an accomplice. authorities say although they have no evidence to support that at this point, because of the complexity of the planning that perhaps it's hard to believe for them that he didn't have some help somewhere along the way and lastly, my other headline this morning is his girlfriend marilou danley interviewed, not in custody, has an attorney but
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says she had no idea this was planned when she was given a ticket by him to go to philippines and was sent $100,000 to buy a house for her family. she thought that was him saying, i'm breaking up with you. we still don't have a a motive. stuart: all right, jeff, we still don't have a motive, we don't know why he did it and that's the unease factor coming in because of that. jeff flock, we will be back to you later. still on the massacre, the republicans will consider banning the bump stock kit used in vegas to turn rifles into rapid fire weapons. pete hegseth is with us and he's an harmy veteran and "fox & friends" cohost. the gop, republicans have always resisted almost any kind of gun control but now they are on board with this. what say you? >> well, they're going to be liked by the new york times for two weeks before the new york times turns on them again because they want new york times and others, want way more than a bump stock. that's where they start, they
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may cave but it won't be effective. we look for the one thing that we could have done. it's already illegal to modify a semiautomatic weapon into automatic weapon. he broke numerous laws. stuart: but the kits are available and relatively cheap and can do it. pete: we live in a technological advanced world, you probably can. so we are not going to legislate our way out of this. we live in a free country, free society where stupid people are free to do unfortunately stupid things and when they are against the law, they'll be treated as such. in this case, bump stock legislation or not, if he wanted to get it, he probably could have. stuart: it doesn't amount in your opinion to a whole hell of beans, it's not that big a deal? >> i don't think you should be banning the bump stock. i don't think we should start down that slope, i don't think a piece of equipment will stop whether or not someone will find a way to kill a lot of people. the people say, this is common sense, to some people -- some
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people's common sense to other is nonsense. where do you draw the line? can you own 10, 15? the left wants to go as far as they can to restrict the second amendment. as soon as you start talking about pieces of equipment, size, you start to do down to slope. stuart: i have the feeling that it's not a good idea to have a very simple piece of equipment that can turn a regular rifle into a killing machine. a military-style killing machine. i personally i don't object, if you don't ban that thing. >> it won't have much affect. that's the reason why republicans are moving this direction because i think there is a sense that we could do this one small thing and look sensible and look bipartisan and everyone can pat themselves on the back in washington when it won't be effectual at all. stuart: you know what you're talking about which is a good thing to have on the program. thank you very much, pete. see you later. florida's congressman carlos
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corbello is introducing the bill, he's a republican by the way and he will join us a little later in this hour on this program. all right, let's get the money. look at the future's markets, we are going to go up again. we are already in record territory, we are going to go up at the opening bell this morning, not much but we will go up. now look at what the president tweeted first thing this morning. stock market hits an all-time high, unemployment lowest in 16 years, business and manufacturing enthusiasm at highest levels in decades. brian brendberg, business professor at king's college new york city is with us. a, this economy is expanding, forget the hurricanes because they will have a negative impact, but this economy is expanding very nicely. >> the president knows how to sell the economy. there's a lot of data that means this could keep going into next year and it's going to get better because investors love the idea of corporate tax cuts, they believe it's going to happen, boost earnings 7 to 10% next year across the economy. don't see the rally slowing down
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as long as they ignore the bad news, geopolitics, all of that, rally keeps going. stuart: we have gone up nearly 5 trillion in value. 24% up for the dow industrials, we've already done that and you're saying that if we get a tax deal we will go up some more? >> oh, yeah, earnings driven rise. the market is discounting bad news in the world, but they're willing to ignore it. if they're willing to ignore it, you will see the market continue corrally. stuart: are you surprised surprt of this market rally because i'm flat out astonished? >> yeah, look at the news around the world and the market continually ignores it. they love earnings, they love something the president is coining -- doing and i don't see it stopping unless opinions change on a dime. stuart: you have reassured
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countless viewers in varney & company. are you surprised, ash? [laughter] ashley: the data supports what the president is tweeting, he's absolutely right. we do get the tax reform through and the corporate tax cuts, we are off to the moon. stuart: lizzie is winking at me, go. [laughter] liz: i know you wanting to to commercial break. [laughter] stuart: this is frankly unbelievable. watch this, president trump, he threw rolls of paper towels. stunning outrageous. democrat congressman luiz gutiérrez of illinois is not happy about this. roll tape. >> we rap up the use of full capacity and capabilities of the u.s. government including the u.s. military to rescue people. they don't need paper towels tossed at them like t-shirts at a sports arena, they need helicopters, bridges, cell
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towers and generators which is i was frankly horrorred -- horrified by our president's performance on the island. stuart: mayor of san juan found the whole incident terrible. look who is here, doug, fox news contributor. >> i hope i'm not terrible. stuart: this is ridiculous, isn't it? ridiculous. >> what's ridiculous to me is puerto rico is down to its last 1.6 billion in cash reserves, they're running out of money and we are arguing among our politicians on both sides, let's be fair, about this silly stuff. let's worry about the people of puerto rico and our well-beings. stuart: it's you, guys, it's the left bringing up the nonsense, he shouldn't throw paper towels into the crowd. that's the left trying to discredit the president on the most silly, ridiculous level i've ever heard. it's going to rebound against
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the left on this. >> presumably when donald trump was criticizing the mayor of san juan, you'd say, the president shouldn't have been criticizing her as i would say and -- stuart: no. >> all of them should stop. stuart: he was right. the president sees it and tells it how it is. congressman gutiérrez is horrified that paper towels -- >> i'm not here to defend congressman gutiérrez. stuart: he's in your party. >> i'm an american and as american i care about the people of puerto rico, not playing politics with people's lives. stuart: you get on the stick here and make sure that the left of your party understands -- >> i've tried, stuart, and they're not listening to me. i make efforts constantly. look, i'm against anyone, democrat or republican, liberal or conservative, politicizing a moral, personal, political and natural disaster.
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stuart: we will lever it at that, shall we? >> i'm happy to. stuart: thanks for coming on. >> i understand. stuart: i have a story about target, they are taking a shot at amazon, same-day delivery service that is. target is testing out a new driver-up option. here is how it works, you order online, drive to the store and employee brings your order right out, puts it in your car for you, no more waiting in line for you, that's target this morning. no change in stock premarket. how about this one? another storm brewing in the gulf of mexico. this one is called nate. tropical storm moving north. we will tell you when and where this thing is going to hit. 1996 mass shooting in australia, after that the government destroyed 600,000 guns and since then no more shootings. australians that say succes is a myth, he's on the show after
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this
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stuart: here is the amazon story of the day, all right. look at this. fedex and ups way down in premarket trading. there is a report that amazon is testing a new delivery service of its own. according to reports amazon is looking to make more products available for free two-day delivery and, of course, to relieve overcrowding in its warehouses. look at that. fedex and ups taking it on the chin. next case, in 1996 australia went to through a mass shooting after which the australian government banned pretty much all guns. they destroyed 600,000. you can see it right there. since then there's not been a mass shooting in australia. nick adams is with us, australian, alter of the book the case against the establishment. i want to talk about this, they destroyed 600,000 guns and we
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are told no more mass shootings. >> well, stuart, there hasn't been a mass shooting like we think of a mass shooting but there have been technically 13 massacres since the gun control -- stuart: explain massacre? >> certainly more than four people have been killed at one time. now it hasn't only been with guns, two or three of those 13 have been with firearms but there have been other things that are being use today create those -- that devastation. we've had arson, knife stabbings, the overall rate of massacres has not changed despite the gun control legislation that was introduced. stuart: now we have a constitution in the united states as you well know and we've got something called a second amendment and we have the right to bear arms. you can't confiscate and ban all guns here and you're not suggesting that. >> no, not at all. listen, what happened in australia would never happen in the united states of america. country, stuart, to the international perception that
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australia's box kangaros by day and crocodiles by night. try going texans and say us give us your guns, it would never happen. so it can definitely not happen nor should it. the second, i i believe, is the corner stone. stuart: would you go the other way and say that more guns equals less crime, equals less mass shooting, would you say that? >> look, stuart, there's definitely a case to be made that when you have a citizenry that is armed, that is the best defense to evil, that is the best to government overreach and that is the best defense against foreign enemies. stuart: i'm with you on this 100%. america is an exceptional country because of the second amendment but ownership of guns in the crowd in las vegas would
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not have stopped mr. paddock. >> that's true. listen, i don't dispute that. that is definitely the case in this particular instance but i think there have been many cases where it hasn't been reported, stuart, where people that are private citizens have taken action and they've managed to make a bad situation not be as bad as it could have been. stuart: are okay, are you a citn yet? >> not yet. we are celebrating a milestone you and i? stuart: which is? >> four years that i came on your show. stuart: four years, my, how time flies. >> you're looking younger than ever. stuart: you'll be back. nick adams, thank you very much. budweiser, major responsor of the nfl, of course, they set up a national anthem hotline. liz: major advertiser and responsor and bud is the official beer of the nfl. now customers can call 1-800
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number, where you will hear the recorded message. the national anthem is a point of pride for our company and for the 1100 veterans we employ, please feel free to share your feedback after the tone. so watch this. earlier in the week, the kansas city chiefs of missouri, they basically played against washington redskins, fans got really mad when the star cornerback of the chiefs, marcus peters knelt after vegas. they wanted kneel. the fans were upset so soon after vegas. stuart: they have a way of complaining about it? liz: that's right. stuart: you and i will stand for the american anthem. >> absolutely, we will. stuart: to spain, catalonia expected to declare independence
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on monday. no way, not happening u the spanish military moving hundreds of troops into the region to calm any violent protestors. there's development on this. we will tell you about it after this
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stuart: oh, dear, hurricane season is not over. tropical storm nate could strengthen the gulf coast, right now in the east of nicaragua. fox news meteorologist janice dean says it's expected to make landfall this weekend near louisiana. she also says if it gets over water a little bit more it would strengthen and then become more of a concern, but right now we are watching. catalonia says it will declare independence from spain on monday. we have more on this. ashley: yeah, good luck because spain's constitutional quarters suspended parliament session which raises the tensions, you can't have the session to declare your independents, so what happens next? you say they are bringing in the troops. the troops are now sitting on cruise ships off the coast of catalonia. that's where they've been staying waiting for the next development. the tensions are rising in --
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and both sides are not backing down. you're out of line, this is unconstitutional, but the catalonias are saying, no, we are in it for a long run. stuart: europe fears this more than anything. liz: to beat up people who are trying to vote. stuart: yeah. liz: eu is silent about military troops are called in to beat up people exercising their right to vote. ashley: human rights abuse. liz: express their opinion. ashley: why do we care? certainly this continues on its way. will royal the european markets because who knows who else will come out of the wood works, texas, california, you name it. stuart: no effect on the american market at this point, none at all. in fact, we are going to open this market in a few minute's time, we are going to go up. not much but up again. please remember that we close at 45th, record high of the dow yesterday, up a little bit from there.
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stuart: it's going to be hard to believe this, it's thursday morning, we have gone up as in stock prices have gone up every day this week.
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$4.9 trillion in overall market value since the election. we are only 338 points away from dow 23,000 and we are going to go up a little bit in 5 seconds time when this market opens. can you believe this? we have been sitting here covering it. we are astonished. we are up 19 points. wait for it. are we going to go negative? we are up 4, we are up 5, we are up 8, we will take it, we are up 9. the s&p 500, all-time high, how about nasdaq, well above 6,000. well, that's old news. it's up a quarter percent. that's another all-time high, 6,552. you know, this is exciting. we are all making money here. take a look at target launching a new drive-up service. you order online and you go to the store and they bring it out to you and put it in your car,
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that's target virtually flat, google launching new pixel bones. ashley: pixel. silent, t in america. stuart: 649, pixel, 2pixel. 849 both available for preorder. ashley: one of the cool features is you can squeeze it to take a cell phone. you know how difficult it is to take a selfie? stuart: i want it. netflix, look at this one. netflix, one invest mint firm says that netflix will remain the clear global leader in video streaming. that stock, by the way, up 44% this year. it's up again this morning. here is the bad news for fedex and ups, way down this morning
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after amazon reports, there are reports that it is testing a new delivery service. amazon is looking to make more products available for free in the two-day delivery and to relieve overcrowding in its warehouses. that takes it out of fedex and ups. more on this in a moment but who is with me, ashley webster, he got his two sense worth in here. elizabeth mcdonald and a special guest, ladies and gentlemen. we are keeping her away from her nap time, maria bartiromo. maria: good to see you, stu. stuart: scott martin. glad you could join us this morning. first to you, scott, what stops this rally? >> very little. i don't think there's anything they can do, stuart. you mentioned on the break, nasdaq 6,000, international stocks by the way up 30%, dogs and cats living together, mass hysteria everywhere. every reason the market has had to go down it's gone down for
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like a day or two and new money, new buyers have come in and layered up in stock. when you look at the latest trump tax plan which i perceive as very good for this economy and finally what the economy needs to sustain about 3%, 4% growth continuously, that's the reason to be hopeful even if it doesn't get done by the end of the year, 2018 looks like another good year for the s&p. stuart: maria, what stops this rally? maria: well, listen, you have earnings period next week and the job's number out tomorrow. all of these reports whether it's the economic data or the earnings data will have an impact from the hurricane. so we are going to see a lower number than we've been seeing recently but was know that. i would say bring it on. third-quarter earnings next week, up 4% overall in s&p 500. that's way down than what we saw in the first quarter. again, temporary things in place. earnings period is solid. we continue to see a great backdrop, i don't know what stops the market.
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ashley: small business confidence is up, manufacturing continues to expand, the service sector picked up steam and the economy is humming along nicely. even when we see money once in a while, comes out, tech sector and the money rotates into another sector. very positiver. liz: one sixth of the markets gains, a sith from the trump election. it's 29 trillion since it collapsed in 2009. if those tax cuts don't get done -- maria: focusing on valuations. one vial -- valuation, exxon mobile is trading -- >> maria, you said it. [inaudible conversations] stuart: you were that close. i missed that. go. >> earnings estimates have started to come down while everyone was sleeping, sorry to keep you from your nap as stuart
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said earlier. earning estimates have come down. guess what happens, guys, the s&p continues to go up. the bar has been lowered and this is going to be major reasons for prices to keep going up even though earnings estimates are going down. stuart: i want to get back to fedex and ups lower, sharply lower after reports that amazon is testing a new delivery service, not surprised about this. they get into everything. maria: bottom line. stuart: they are trying to fix the last mile either to your house or wherever it's going to go. fedex and ups way down on that one. liz: drone delivery. stuart: i want to get back to google. they are viewing two new pixel phones. should apple be worried? maria: everybody has to be worried. trends change frequently and you know how it is in technology,
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it's all great, we have all have iphones until we don't and the next hot thing is out. but things change real quickly in technology land and i wouldn't be surprised if there's another hot that i think we want next year that could eclipse it. you have to constantly innovate here. stuart: pixel has brighter color, no headphone jack, wireless. maria: i don't like that. liz: you hold the phone up and you get the phone number or you hold it up to a dog and will tell you the breed. interesting. ashley: music playing in the background, it will appear on your phone and tell you who the song is and who is singing. maria: i like that. ashley: kind of cool. [laughter] stuart: apple watch, here we go. the company, that is apple has released update to fix watch
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connectivity. you have one, maria? maria: i don't. what i like about it is the health care stuff. i like the fact that they are monitoring glucose and heart rate and how many steps you took, but i don't know if aisle- i'll wear it. stuart: that's tmi. i understand that, but -- maria: you don't want to know how many steps you took? stuart: no. maria: you're doing it there. ashley: how many steps from here to the limbo. -- limo? [laughter] stuart: check the big board, we are up 11 points. 330 away from dow 23,000. next case, at&t chief won't
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definite i will say if jeff keeps job at cnn once the time warner merger is complete. share price of both companies, at&t virtually hasn't changed. higher profits and better outlook in brands, they have a corona beer, charles smith wines and whole raft of other stuff and they are up 4%. that's a nice gain there. 209 on consolation brands. somewhat low-tech offering from target. you order online and go to the store, they bring it out and put it in your car, competing with amazon. >> wal-mart is doing it too. can you get out of your car and get your stuff? sorry. it's a good service. stuart: they are trying. ashley: at least they are getting out of the house. stuart: is that good or not? maria: we don't do anything anymore. everything is done for us. stuart: it's great, america is a
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wonderful country. liz: good time to be alive. stuart: have to look at them, one has been moving and one has not. ge and general motors, two of the biggest names basically in industrial america and they are going no opposite directions. look at that. the yellow line is general motors which has gone straight up specially in the last three weeks and the blue line is gi, which is consist consistently gone down in march of this year. barely up 23-24. liz: this is the same stock level for ge as it was trading in 1998. stuart: yeah, exactly. maria: 59 and three quarters. stuart: i remember those days. maria: so do i. i remember them from my options. [laughter] stuart: scott martin, would you buy either general motors or general electric at these prices? >> i wouldn't, stuart. we actually own gm already but i'm not add to go it here because of the fact that the stock run is overdone here.
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it's been a big move. the problem with ge, back to thinking about when maria had stock options, back then you knew what ge was, it had a good business plan and things that were starting up. ge is in the middle somewhere, they don't really know what the company does, are they going to spin off some parts of it. gm, if it does pull back here some, i would add to it but not at these levels. stuart: we've got. it's 9:40, that means i have to say good-bye to maria. you can take the nap any time you like. maria: i'm not taking a nap. what's with the nap? stuart: i have to say good-bye to you as well. thank you very much, indeed. maria: thank you very much. stuart: by the way, you better tune in to mornings with maria, 6:00 o'clock in the morning. that's why she needs a nap. 3-hour show. maria: enough. stuart: all the way to 9:00 o'clock on fox business, ladies and gentlemen. all good stuff. check the market, please, 12 points, almost 13 points, 22,674. can you believe this?
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next case politics. more contempt from the left, michelle obama, former first lady says people don't trust politics because the republican party is made up of all white men. katrina pearson, one of the president's supporters reacts to that in our next hour. sales of bump stocks surging after the massacre in vegas, gun owners worry that they could soon become illegal. next we are talking to a republican congressman who is introducing a bill that would ban those bump stocks once and for all. more varney after this i'm a concrete mason.
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congressman, you have bipartisan support for the first time in a long time for a gun control measure, right? >> good morning, from the capitol, stuart, definitely, that's the big news that after so many years of trying to reach a bipartisan compromise on gun legislation it looks like we may have a breakthrough here, most members on both sides of the aisles understand that the bump stocks are flagrant, automatic weapons are banned in our country and this device converts semiautomatic weapons in automatic weapons that can fire 800 rounds per minute. most people around here understand that that shouldn't be. stuart: trouble is congressman, you can make these things yourself, you can 3d print these things. i don't know how you ban that. >> well, you have to have tough penalties so that you have a strong deterrent for people to acquire or make these kinds of devices, so we are now trying to
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structure that legislation, we want to make sure we keep buying from both sides because that's the only way we will get something done. so we want to be as ambitious as possible but we don't want to go too far because then we lose the coalition. stuart: also you have to be precise in the wording of the law because once you come out with a law, you can't have these bump stocks, somebody will just make a minor change and bingo, that is legal, i mean, you see what i mean? the wording of the legislation is extremely important and very difficult. >> that's right and that's why some of the focus should be on the ability or the practice of converting weapons that are semiautomatic into automatic weapons. that's what we want to prevent, for someone to fire 400, 800 rounds per minute. most americans and most members of congress understand that the
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laws as they exist today are designed to prevent that, yet, we have this loophole that's being avoided and we need to rapidly close it. stuart: is this basically, we have to do something and this is something we can do, that's it, isn't it? >> well, when it comes to gun policy, that's what it's come down to. we have seen that for years compromise, bipartisan cooperation has been elusive. if we can take this first step, perhaps we can also look at other policies that both strengthen the second amendment, because i do believe in the second amendment and we should protect the second amendment, uphold the second amendment but like all of our rights, there are limitations and we need to be smart about how we regulate guns in our country. stuart: congressman carlos curbelo, republican from florida. thank you very much for joining us. >> yes, sir. stuart: we are hearing that sales of these things are
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surging. ashley: interesting, the reports newsweek say it is online stores of at least six gun retailers have soldout of the bump stocks devices and also believe that curbelo, sell of this particular device, you can't find it on online site. we haven't had confirmation. certainly what we are seeing a belief with republican lawmakers saying that we maybe we should look at banning the devices, the surge, demand, if you like, has gone through the roof and they are being sold out. stuart: i'm on board with this, i'm on board this. liz: yeah. stuart: it's difficult to implement. you make your own but nonetheless it's a statement of intent, ban them. liz: when you hear the sheriff of las vegas our own cops are outmanned by the devices, you have to pay attention. people who say you can't do anything about it, they will
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make their own, sit down with each of the victim's families and say that to them with what they went through. stuart: fair point, lizzie. fair point. thank you. we are up some more. the dow industrial average right now, about an each split, winners and losers but a few more winners and losers and we are up nearly 22 points. we are getting real close and only 300 points away from dow 23,000. one company says shoppers will spend a -- will spend 66% -- let me get this right, 6 as in 6% more this holiday shopping season than they did last year. ashley: a lot. stuart: that money going to bricks and mortar stores or will amazon be the huge winner again. we will answer the question in a moment. retirement rabbit, from voya. i'm the money you save for retirement. who's he? he's green money, for spending today.
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stuart: records continue to be broken, all three indicators on your screen, dow, s&p, the nasdaq, all of them at all-time record highs. how about that? and then we have a survey from consultant firm. holiday spending this year will go up maybe 6% compared to last
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year. joining us now the man who coined the term retail ice age, burt is back. i want to add a little bit more here. that same pwc report says high-income earners, $100,000 a year or more, they will spend an extra 15% this holiday season. here is the question. do they spend it to bricks and mortar stores in the mall or amazon? >> stuart, for the first time in four years both, my colleagues at pwc have it completely correct that this is going to be the best season in four to five retail seasons for bricks and mortar led by macy's, dynamic announcement of redoing loyalty card for platinum so they have ebay, they have jeff, they have a whole new team with jeff and tony spring running it. shoppers will get better brands, save more. macy's, macy's.com, seventh largest retailer in the world will go to both, 10% will stipshop at amazon.
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everyone wins except for toys"r"us where some irresponsible news reports and from other news organizations forced that company into bankruptcy institutionally inexcusable. stuart: that's another story entirely. >> fantastic. stuart: interesting word. tell me about target. they have a new plan, you go online, order, drive your car to the target store, an employee comes out and puts it in your car for you, what do you make of that? >> not, good, stuart, they can't keep the shelves stocks. get rid of their ims, inventory management system that doesn't work and when they do collect, maybe the shoppers will have the product. wal-mart is doing a much better with their great new hire chris from amazon and amazon hired the best and the brightest. advantage amazon, advantage wal-mart, advantage macy's,
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target time to wait. stuart: okay, i want you to tell me about this amazon report that they're considering starting their own, their very own delivery service, ups and fesm ed are way down on that news, it's a big deal, isn't it? >> there's still a shortage of drivers. fedex will have record results. [laughter] stuart: short of drivers, that's the problem? i don't think so. >> with all the traffic density and everything else, the drivers can't be as productive per person per day, so they're not -- they're not hiring drivers straight out of prison with no drug tests but some of -- some of the retailers are hiring people straight out of prison to work in the warehouses to load the trucks, that's acute shortage, drivers first,
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warehouse first and drivers second. stuart: you like macy's and amazon, can we leave it at that? >> tractor supply as well as wal-mart. stuart: okay, as well as wal-mart. thank you, sir. we appreciate it. >> thank you, congratulations on being number one, power to prosper. stuart: we are kind of happy. riz riz stuart: thank you very much, sir. president trump, wait for it. the horror, the president threw, look at him, he threw paper towels into the crowd in puerto rico, the left, the horror, he threw paper towels. we will deal with this next. [laughter] [vo] the grille is distinctive. but it's usually seen from the rear. the 2018 audi q5 is here. we cut the price of trades to give investors even more value.
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intelligent technology can help protect it. the 2018 audi q5 is here. stuart: we first saw this video tuesday. president trump handing out supplies in puerto rico. we didn't think much of it at
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the time. he was throwing those paper towels in the crowd. that to the left is absolute no, no. that is an insult. democrat congressman gutierrez said this. they don't need paper towels tossed at them. i was frankly horrified by our president's performance. the mayor of san juan, carmen cruz found the towel throwing terrible and a -- abominable. are you kidding? president trump asked for $29 billion aid package that pays nothing in income tax. they supplieded generators, thousand of personnel, a president who tosses a paper towels is abominable? nonsense. nbc trying to undermine the president claiming that rex tillerson called him a moron. when is the nation is reallying from a mass killing that is news? no it is not.
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that is leftist propraganda. this is absurdity. this does not add to the debate over puerto rico's dire situation, or our policy over north korea. this is cheap shot at a president handling a series of crises. it is self-defeating. i repeat what i said at this time yesterday, undermining our president, with silly, irrelevant, frankly childish attacks is not a good idea. the second hour of "varney & company" is about to begin. ♪ stuart: here we go. thursday morning, mortgage rate time. we've got them for you. ash, what have we got? ashley: 3.85% on 30-year freddie mac. up hair from the week before, but really? still way under 4%. incredibly low. stuart: say it every time. ashley: what did we pay? stuart: i paid 12 1/2.
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you paid. ashley: 16 1/2% 30 years ago. stuart: my how times have changed. liz, factory orders? liz: up 1.3. suggesting that hurricane harvey and irma will not be will not be a drag on robust business spending coming in. stuart: that is fascinating. especially on factory orders, the dow industrials, we have the nasdaq. we have the s&p. there is a long list of them. all of them. all at record highs as we speak. dow 27. s&p four. s&p 18. like this all week, every hour, all week. astonishing. big technology stocks, where are they this morning? apple not going through it. read them, don't weep. >> read them and smile. stuart: read them and smile. that's what we're looking for. they're all up. ups and fedex are down after a report today that amazon's testing a new delivery service. that is taking the market away
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from fedex and ups, maybe. those two stocks way down. want to get back to my vigorous editorial at the top of the hour. listen to what democrat congressman luis gutierrez said about president congressman's the visit to puerto rico. >> full capacity an capabilities of u.s. government and u.s. military to rescue people. they don't need paper towels tossed at them like t-shirts at sports arena. they need helicopters, bridges, cell towers, generators. i was frankly horrified by our president's performance yesterday on the island. stuart: horrified? joining us now is harlan hill, a member of the donald j. trump for president advisory board. i'm getting a little hot under the collar here. i think the left has gone way overboard on this, i think it is self-defeating. what do you think? >> puerto rico doesn't need? politician grandstanding on the
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flags vt for political exped greens of the democratic party. exactly what we have congressman gutierrez and mayor of puerto rico, taking cheap shots. gone up and beyond any president in u.s. history. faced adversity between north korea, three major hurricanes, other national problems. he handled them with grace and compassion. he has gone above and beyond. that is not enough. it is just proof that democrats in this country no longer stand for anything. stuart: is there an ethnic element here, congressman? gutierrez leads hispanic caucus in the house. mayor of san juan is hispanic. puerto rico hispanic island. is there element of ethnicity creeping in here? >> it has been quite some time. they have spent, the democratic party spent 18 months trying to label president trump as a racist. here we have mainstream democrats, elements in the
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media, race-baiting americans. trying to say the president is not adequately responding to puerto rico because he is racist. that is not substantiated by the facts. it is slander. stuart: where are we going from here? >> nowhere productive. i study history. i don't know that we have been this divided in a long time. stuart: the media is stoking this. i mean, these, outrage because he threw paper towels, i'm not just picking on a silly little incident. i'm looking at media, their reaction to this. i don't think people believe this any longer. i don't think media, there is no trust for the media any longer. >> insult to our intelligence. americans have woken up, and they're not even going to dignify this ridiculous bs anymore. they're just turning off the television. if you look at ratings of cnn, that substantiated by facts because they're in the gutter. they have to fire their president because he has put his own political agenda above the performance of his network.
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and, americans are going to continue to cancel subscriptions. they will tune out of these mainstream media networks not giving them an unbiased take on the news. they're going to give up on it. they will tune it out. they have already done it. stuart: harlan hill, i'm pleased to say you're about as fired up about this as i am. i thought i almost lost control there. but not quite. thank you very much. >> thank you. stuart: next one. going to las vegas. our next guest was at the music festival where sunday's mass shooting occurred. he is an iraq war veteran and he helped get people away from the scene. his name is colin done hue. he join us now -- donahue. colin, a pleasure, honor to have you with us, sir. act as reporter for us, if you would, tell us what happened on sunday night. what happened to you? >> so, what happened to me, so it was, a surreal event.
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i can, it was kind of hard to process right when it happened. i turned around. i heard the first shots. i heard shots before. i got back from iraq on september 7th. so it was only couple weeks ago. so when i heard the shots, there is no way these shots are actually happening. this can't be. i turned to my left, and i'm turning to my right, people started dropping to the ground, taking cover. i'm trying to figure out why they're taking cover. i turned to the left, i say something to the guy right next to him, he looks at me, says, he says something, then he drops. he drops right to the ground. are you okay? he is like, just shot me in the leg. yep, pretty much is a bullet hole. you need to put your finger on it. that kind of was where i was like, okay, i guess this is
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really happening. we need to get people to cover. i don't know if i started barking order, i started yelling at people. everybody started running toward stadium seating. the bleachers. and, one of my friends, belinda and olivia and i ran to, ran to the bleachers. i left belinda there. we went back out and started helping people, doing hasty triage. we went, the first person we went to was dead. doa. we, every person we went to we tried to make sure they were all right. it was just surreal experience. we had to do what we had to do. there were some people. stuart: hold on a second. were a lot of people doing what you did? obviously, many, many people, would run, get out of the way, take cover, understood but there were a lot of people like you who went back helping people?
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>> sir, it was, there were -- that is the thing. i've been telling people. i only tried, i only could do so much. i'm not an emt. i'm not a doctor. i've been trained in certain things. i was not that i was with doctors. i was with emts, with nurses. my friend olivia was a nurse. she followed me around working on people. there was so much people, such a great effort. showed such unity and bravery, it was honor for me to be with them. i was just trying to help them out. so for me to be a part of that experience, i, i don't know. it was horrible experience. but at the same time, there were a lot of people that came together, put forth just as much effort as i did. i wish i could have done more. stuart: how do you feel now? i have never been in combat. i've never been shot at. i don't know how that experience feels. but you have, and you were there on sunday night.
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now it is thursday. how are you feeling? >> so, for me, i think we can do more. i honestly think we can do more. the city of las vegas is coming together. they went through and did blood, blood drives. we have raised money. but i think we can do more. i honestly do. stuart: what more do you want to see? what more could we do? >> personally, what happens in vegas stays in vegas, that's a famous saying. what happens in vegas actually impacted the world. i received numerous messages on facebook telling me they want to thank me for the things i've done. i think we can do more. i think this should be unifying event culminating this horrible experience. i think that, with las vegas there is a lot of good bands in las vegas you have five finger death punch. you have imagine dragons. you have the a lot of killers
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and bands that could help. they're from las vegas. this is their city. you have a lot of bands that perform here and a lot of groups that can perform here. i would like to put something together, raise money, give all proceeds to these families. if you start looking at it, families impacted here are going to be impacted here for rest of their lives. we have people that lost their loved ones. people have children that, how are we going to put their kids through college? i think a lot of things we can look back to try to help out. long term, we can help in the short term. we need to be able to help in the long term. stuart: well-said. >> this is our city. we want to tearing care of -- stuart: colin, i think you have a very good idea there and something may come of this. thank you very much, sir. we appreciate you being with us. it is very, very difficult story you had to relate but it's a very important that we put it out there. colin donahue, you're a fine young man. we appreciate you being with us
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today. thank you, sir. >> anything i can do to help out, and i would love to help out. i think we can do more. so i do appreciate it. stuart: you're a good man. we'll see you again soon. colin donahue. liz: great idea. stuart: good man. lots of people like that. coming up the massacre racing the issue of gun control. last hour we spoke to a republican congressman introducing a bilby partisan bill to ban those gun stocks, the little device, that makes the rifle into an automatic measure. has he got enough support to get it passed? probably. we'll debate it in a moment. another example of the left's contempt. michelle obama say people don't trust politics because the republican party is made up of old white man. we'll discuss that. you're watching the second hour of "varney & company." what powers the digital world. communication.
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that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink. stuart: how many times this week have i come back on the air after commercial break, said,
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it's a rally? we're yet at another all-time record high, both for dow, s&p, nasdaq, russell 2000. i can say all of that right now. it is all true. mirrored highs. look at l brandses. that is the parent company of victoria secret. falling, the stock that is, after reporting a 10th straight month of sales declines. look at constellation brands, these are the liquor people. all kinds of brands under that umbrella, corona, charles smith wine, et cetera. they are looking down the road. business will be good. stock up close to 4%. a republican lawmaker, carlos cabal low to ban bump stocks that make guns fire more rapidly. what he said last hour. >> some of the focus should be on ability or practice of
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converting weapons that are semiautomatic, into automatic weapons. that is what we want to prevent. for someone to be able to fire, 400, 500, 800 rounds per minute. most americans and most members of congress understand the laws as they exist today are designed to prevent that, yet we have this loophole that is being exploited. we need to rapidly close it. stuart: congressman curbalo, republican. joining us congressman steve king, a republican congressman from iowa. would you support this bill? >> at this point what we're doing, we're being reactionary to a terrible, terrible event in vegas. we've seen anti-gun efforts launched every time with a high-profile shooting in the united states. so talking about bump stocks, i am a gun guy and, we have generations of people and sons,
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grandsons, all the way along the way, i had not heard the term i paid attention to bump stock until now. not in any position to say i'm going to support legislation that would outlaw them. neither should we be discussing this in this arena. stuart: so you wouldn't support this? >> if i had to vote right now i would not support it. i would of course, as any issue i would look like at any other issue but i think this is reactionary part, almost knee-jerk. we have a terrible, terrible tragedy in america. and somehow one deranged individual was able to create an arsenal. stuart: he was, wait a minute. he was able to create this mayhem because of these bump stocks devices, which turn ad regular rifle into a machine capable of firing, 6, 7, 800 round as minute. he couldn't have killed all those people had it not been for the bump stock. you wouldn't ban it? you're laughing.
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most people would say good lord, man, you have to do something. >> what is frustrating to me, stuart, we are focused on a single component of a weapon that he used. he had a whole arsenal of weapons. if he wanted to kill many people he could have used a number of different things. we didn't outlaw 74s after 9/11. we didn't outlaw bombs, that would be the next technique he was prepared to use. this is not single component after single weapon. stuart: it was in this case. it was in this case. it worst mass killing in american history. mass shooting whatever your definition is. and it occurred, in part because of that device. >> in part because of that device but can anybody actually say this would have happened if we outlawed bump stocks? i don't think any rational person would make such assertion. stuart: isn't public likely to have reaction against this kind of event? >> yes. stuart: you have got to do
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something. the one thing you can do because you have bipartisan support is ban bump stocks. perfectly normal reaction. >> we should not be reactionary legislature. if this idea can sustain itself over months or weeks for that matter, it is worthy of consideration. i said i would consider it like any other policy, but quickly do this, there is somebody waiting in a hotel room somewhere that with a bump stock device and we outlaw that, he will stop his mass murder, that is not going to happen. what good can come from this, focuses us the wrong way. why did this guy do this? how did this happen? why didn't we see all the guns coming into a hotel. i don't know if you can ever stop a heinous evil mass murder murderer. is there anybody evil enough the devil wouldn't accept him? this might be the guy. stuart: we'll see how it goes. there will be a vote sooner or later. congressman steve king, we
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appreciate it. >> thank you, stuart. stuart: much obliged. netflix announcing that we will increase prices for new subscribers. top tier service going from 12 to 14 bucks a month. wall street likes it. stock up another 3.25 percent. netflix close to $200 a share. >> former equifax chief is on capitol hill for a third day today. what he said in a speech in august is getting him into more hot water. we'll lay some of it in a moment. ♪
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stuart: check all the markets for you. price of oil 50 bucks a barrel as we speak. very important story. an august speech by former equifax chief, richard smith, that speech is raising concern. in it he said fraud is a huge opportunity. gerri willis got the story. will fill us in on the rest of it. go. >> that's right, we kept hearing over and over again in hearings from democrats by the way that equifax makes money on fraud. over and over again they said this. let me tell you what senator elizabeth warren had to say. let me describe first before we go to the sot. the company is giving away free consumer fraud protection for a year to americans hurt in the debacle. 7 million americans took them up on this. what happened if one million americans signed up for the second year which would not be free? listen to this. >> if just one million by one
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more year of monitoring through equifax, at the standard rate of $17 a month that is more than $200 million in revenue for he equifax because of this breach. >> she went on to say the company's bottom line, not aligned with the best interests of consumers. so we went out and looked for more sound from the ceo, richard smith. let me tell you what we found. he speaks to a university of georgia audience, a business school audience, crowing about the company, calling it a world class, state of the art technology company. oh, by the way, do we make money on fraud? listen to this. >> fraud is a huge opportunity for us. it's a massive, growing business for us. >> a massive, growing business for equifax. in terms of revenue, they made 402 million in revenue, on total company revenue on 1.2 billion.
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operating income, 1 is 2 million on 817 total income. big important part of the business. stuart: equifax is toast. well-done. amazing stuff. gerri willis, thank you very much. >> you're welcome. stuart: check the big board, we're up 24 points. 22,685. more "varney" after this.
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up. apple up to 155. the gun control debate front and center after the vegas shooting. our next guest wrote a piece about it. wait for it, nothing nor infuriating, foreign-born tv stars lecturing american on gun ownership. the writer, larry o'connor, wlan radio show host. i don't know why but we have him on the show. you're not referring to me. i don't lecture anybody about gun control. >> i thought you were from queens, stuart. listen, i understand that rubs people the wrong way. understand i wrote the piece from perspective of conservative media critic. i aimed the article in piers morgan's wonderful career. i know your friend and media mentor, piers morgan. stuart: i insulted him frequently on the program. there you go. >> when he was a star on another cable news network he made it his life bush shun to lecture
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americans about second amendment rights and gun ownership in this country. doesn't work out for him. worked out for my friend, ben shapiro, dana loesch, they became stars in the conservative movement, bringing to the table a fine debate and strength of that second amendment and why we have it. the day after that horrible shooting in las vegas it really struck the wrong chord for a lot of americans to hear people like trevor noah from south africa, james corden, seems to be nice an talented guy on cbs, he does a comedy show. they both basically looked down their knows on our gun laws, versus laws in their native land. this is american conversation. stuart: foreigners, i mean europeans, other folks around the world, they do not understand america and ownership of guns. they don't understand how gun ownership makes america truly exceptional. i don't know of any other democrat or any other society in the world which allows its
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people to be armed, so that your government doesn't get over and above itself. nowhere else is like america. frankly i love it, foreign-born or not. >> i know that about you, stuart. actually it is funny, you and i have known each other about five years now, had these conversations. when i pushed the publish button on article, i hope stuart doesn't take this the wrong way. but you do understand our country. you have gone through the process becoming a citizen as well. in my article i cited james madison federalist papers, number 46 in particular, who talks about the reason why we have the second amendment. it wasn't about hunting, it wasn't about skeet shooting. i cite sadly trevor noah's own country of south africa. in apartheid south africa, the black africans in that country were not allowed to own guns, the white africans, the minority, they were not only allowed to own guns, the government encouraged them to own guns. in black africans in
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south africa were armed do we think apartheid would have lasted as long as it did? i don't think it would. stuart: if we're talking about the gun control, debate, where do you stand, larry on issue of banning bump stocks, the device that turn a rifle into a machine gun? what do you think? >> reading tea leafs in washington plenty of republicans are open to discussing this and i think logically it does make sense to really examine it. i don't think it would be infringement on the second amendment to say, listen this, is obviously a way around what is the clear law of the land, which is an american should not privately own a automatic weapon. this defacto, it doesn't turn a semiautomatic into a automatic, certainly output of that semiautomatic tech is very similar to an automatic if you use a bump stock. i think you will see some legislation moving forward on that. but at same time, everyone here, everyone who loves the second amendment, worries about
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slippery slope. anytime you willing to concede one aspect of this, you open up, then why allow people to have a semiautomatic as well. stuart: that's true. >> i have to say, this may surprise you, i have great respect for michael moore, who on his facebook page, said let's repeal the second amendment. the fact of matter don't like guns in america, want us to mirror laws of england or australia, they ultimately want to repeal second amendment. they doesn't have courage or political will to say it. stuart: by the way it should be an american conversation. that is what it should be. >> good americans like you and i stuart. stuart: you got that right. larry o'connor, appreciate it sir. >> always great. stuart: house speaker paul ryan will hit the road today. he is promoting tax reform plan. the removal of state and local, the tax deduction for state and local taxes that appears to be the big sticking point. joining us now, congressman jim rene sy, member of the tax writing committee of the house
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of the always good to see you, sir. >> good morning, stuart. good to be with you. stuart: the deduction for state and local taxes, i know we talked about this before, it seems to be the big sticking point of the is it? >> i don't think it is. one of the points being discussed. when you talk about it, stalk about itemized deduction, 72% of americans do not itemize today, when you double the standard deduction, 95% of americans will not standardize. that is what we should talk about. stuart: okay, jim, look, people want to know at the end of the day will they be able to deduct state and local taxes or not? you can deduct them now. the tax plan says you can't deduct them in the future. where is this going? are we going to have the deduction? will we keep it? >> stuart, as a business guy and cpa, people don't get the deduction anyway, they don't itemize. stuart: but upper income people do. if you live new york,
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new jersey, connecticut, massachusetts, illinois, california you're paying local taxes. you want to deduction them against the federal tax return. this is very important subject. >> remember, this is a middle income tax cut. it is not a tax cut for the wealthy. that is the goal of this plan. so in the end you're right, 95% of people, that make over $200,000 are itemizing. so clearly it will affect those over 200,000. we're talking about middle america. we're talking about a tax cut for middle america. stuart: wait a second. 33 republicans in the house who come from high-taxed states. if you take away that deduction, those people lose their seats, and they will not street for your tax plan? >> stuart, here is what i always say, i'm a listener than talker. i like to see the tax returns, when people say we need the deduction, let me see your tax return. let me see if you're really using it. let's say i want it because i
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need it and i do use it. there is a difference there. >> if you take that deduction away, high income people will be paying more to the federal government. that is not the objective of tax reform, and it does not stimulate the economy, does it. >> well there will be a lot of things done, stuart. we're dropping corporate tax rate. that will help build the economy and grow the economy. at the same time, many high-earning, high earning americans have said, don't worry about my rate. they have brought that up. i'm willing to pay what i need to pay. that is what we hear all the time anyway. make sure we get tax cut across the board for middle americans and reduce corporate tax rate so we grow our economy and grow the business of employing people, which is the real key. let's get middle americans good-paying jobs. that is the problem. really the problem, what we're trying to do. >> will you, in 20 seconds, will you absolutely guarranty, yes, sir, we will get a tax-cut package this year? >> the goal is to get a tax-cut
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package this year, stuart. i will never guarranty anything in life other than death and taxes as i said all along. i will try. i believe it is something we need to get done as republicans, americans, democrats, we need to work together to help middle america and grow this economy. stuart: may i offer a guarranty? i absolutely guarranty that if the republican party can not deliver on simple tax cuts, you sir, are toast next year. >> well, i'm not going to respond to that. i do believe that as republicans we need to deliver. but as democrats they need to deliver as well too. stuart: you're a good friend to the program, sir, i'm sorry i give you a hard time every time you appear. we appreciate it. >> i enjoy it, stuart. always good to be with you. stuart: glad to hear that. jim renacci, much obliged. >> thank you. stuart: google unveiling new high-tech products. they're taking on apple and amazon. ash, first of all deal with the new phones. ashley: couple new phones, pixel 2 and pixel 2 xl.
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first coming in at 700 bucks and next $849. both are promised to be water resistant. they have all day, battery life. couple interesting things, use them, if you want to take a selfie, how difficult to push camera button to take picture, you take a picture squeezing by side of the phone which is kind of cool. liz: are you going to do it? ashley: i'm a selfie guy. stuart: i'm always doing something. the device in your home, speak to it, does things for you. ashley: couple things. google home mini, and google home max. these are all the trend but it's a good, i guess taking on amazon a little bit. they also came out with a vr headset. still, virtual reality would be the big thing. still seems to be out there, hasn't it? not taking on full bore. they brought out a laptop. bottom line, google brought out
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a slew of new products yesterday but the home stuff should be listening. i like google. i think it is good. might be interested in looking at that. >> thank you very much, ash. we have to deal with this in a moment, michelle obama, former first lady, saying people don't trust politics because the republican party is made up of old white men. katrina pierson responds to that. after this. ♪
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♪ ashley: new survey claims holiday spending will increase 6% this year. last hour we spoke with burt fleckinger, the man who coined the term retail ice age. he told us even brick-and-mortar stores will see higher sales. roll tape. >> for the first time in four years, both my colleagues at pwc, have it completely correct, this will be the best season in four to five retail seasons for bricks and mortar, led by macy's dynamic announcement of redoing loyalty card for platinum. hal lawton from ebay. they have jeff, whole new team
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with jeff ganett and tony spring running it. shoppers get better brands, save more. macy's, macy's.com, 7th largest retailer in the world, go to both. 10% will still shop at amazon. this is one where everyone wins.
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stuart: i'll say it again, all-time highs for the dow jones industrial average, s&p 500, the nasdaq composite.
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by the way, the dow just crossed 22,700. show me netflix plies. they just announced they're raising prices for new customers. they used charge 12 bucks for the top tier plan. it is now 14 bucks a month. they will not raise prices on existing customers. stock close to to up 7 bucks a share. the virg, tech webb sight, that google is running out of the new pixel phones. what is that? ashley: after making the announcement, supposed to be available october 19th, bigger versions, you will have to wait two or three weeks. some are already out of stock. you have to put your name on a waiting list. stuart: popular. ashley: pixel 2 and 2-xl. stuart: maybe competition for apple, who knows. michelle obama says people don't trust politics, they don't trust politics because the republican party is made up of
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old white men. roll tape. >> on one side of the room it is literally gray and white. literally. that is the color palate on one side of the room. on the other side of the room, there are yellows and blues and whites and greens. physically there is a difference in color, in the tone. >> wow,. >> because one side, all men, all white. on the other side, some women, some people of color. stuart: joining us now katrina pierson, member of the trump for president advisory board. i want your reaction to what michelle obama just said, please? >> stuart, i won't hold my breath for "the new york times" headline about michelle obama's divisive language and racism in her tone but i will point out that the proud texas resident, the republican party was founded by black men. think about that for a second.
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this is one of the reasons why people in this country stay so divided because of things like michelle obama that she says, those in her party. it is really upsetting because her husband was president for two terms, and he couldn't have done that with the help of millions of white people in this country. that is really sad for her to say that. stuart: that is divisive. that will be my first comment, very divisive. i will move on to secretary of state rex tillerson. now he pledged his loyalty to president trump yesterday, and that pledge came after nbc news report called tillerson was called a moron by the president and threatened to resign. here shut next case. what do you make of that? >> i think what this is, i have been around president trump before he announced, i have to tell you this is nothing but a distraction because what this president has been able to do, particularly with three natural disasters, this was on the cusp of his trip to puerto rico where
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he mobilized military, he is getting aid to several million people, i have to tell you this happened in july. so for this to be a headline suddenly, it is really just to distract from all of the good that president trump is doing for people that are a part of our country. otherwise we wouldn't be seeing this. stuart: let me ask you, katrina, have you ever asked, have you said to anybody, have you ever used nasty words to describe somebody, maybe not in their presence, but, you're a moron or an idiot? have you ever said that? >> there wouldn't be anything i would say about someone i wouldn't say to their face, on air. of course those kinds of things get said, but what is more important to the american people with regards to news and headlines, are what's happening in our country, with tax reform, with health care, with getting aid to the people, to our fellow americans, not the simple petty stuff that rex tillerson even mentioned. this is very petty. stuart: the president is right in the middle of dealing with the worst mass shooting.
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he just come from puerto rico, where he is dealing with a dreadful calamity called maria, on now desolate island. he is dealing with north korea. you get this report from nbc news which pops right up there -- >> out of nowhere. stuart: out of nowhere, about an event, a statement, a word used months ago by the secretary of state. and he has to come out and do a special statement, pledging support for the president. i think you're right. i think it's a distraction. i think it was seen for precisely that. last word to you. >> that is exactly right. it was very telling. this president come through so many crises in the country. coming out on top. the media can not let that come out. they can't talk about the good things he is doing. always has to be bad, no matter what. that is why came out just to distract people from what he is doing. stuart: katrina pierson, welcome back to the program. good to see you. jordan belfort, "the wolf of
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wall street," in case you didn't know, he schemed and defrauded investors. well, he will join us next hour. who knew that phones would start doing everything?
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stuart: we just learned that the irs has awarded a multimillion-dollar fraud prevention contract to equifax. do you have any comment,
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senator? >> that is news to me. when i finish here, stuart, i'm going to a committee hearing, at which the equifax president will be attending. i think i might ask him that question. i found out about equifax's contract with the internal revenue service in an interview this morning with stuart varney. how big is that contract? stuart: you know, we're flattered. thank you, mr. senator. we do appreciate that. senator john kennedy there, at the hearing for the equifax guy who is really on the hot seat. i think he paid us a compliment right there. ashley: he certainly did. i love when he is on the show by the way, mr. kennedy. because he is very honest. he has very unique way of stating things. it was a shock to him. when you said, by the way did you know irs hired equifax? came through in his promise to mention your name. the power -- stuart: we're very grateful. we're glad he did.
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liz: you know what? what he picked up on your outrain over it. by the way both equifax and irs like to act they have the fort knox of data. they are supposed to protect it. both were hacked. remember the irs got hacked, 700,000 taxpayers accounts hacked. now equifax hacked? stuart: the hearings last couple days will result in challenges to equifax's basic business model. they're not on the side of the consumer but they're making money off consumers. ashley: scott shellady on the show last week, hasn't heard of one customer of equifax, we're dropping you, that is interesting. liz: corporate customer. ashley: people that use equifax. stuart: equifax is in business of serving banks, helping banks. that is who they are geared towards, not we the people with our information stolen. they give to the banks. liz: one person had 242 pages of information at equifax, on that one person. stuart: that was in the hearing.
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thank you, senator kennedy. we appreciate what you did for us yesterday. we'll be back.
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free to try. no credit card required. gocentral from godaddy. stuart: when a 64-year-old man plans a military-style attack and kills 58 people, a feeling of unease sweeps the nation. yes, it is unnerving. point number one, we don't know the man's motivation. we don't know why he did it. there is no obvious connection to any motivating force whether it's religion or politics or a simple desire for fame. that is very troubling. if you don't know why a man does this kind of thing, how do you know who might do it next? point two, how do you stop it happening again? truth is, we can't. you can't safeguard a big outdoor crowd. you can't ban high-rise hotels x you can't ban all guns. and you will have great difficulty searching the bags of all hotel guests.
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it's like truck and van attacks on pedestrians. you can't guarantee safety against a determined killer. that's why we're still in the grip of that uneasy, unnerving and, yes, angry mood. in contrast, look at the president's visit to las vegas. he met and thanked the people who showed courage and resilience in the face of evil. the man who was shot in the leg but insisted on standing up to meet the president. the doctors and nurses who coped with chaos. the off-duty cops and firefighters who risked their lives to help others. yes, america has taken a hit. we all feel it. but when disaster and outrage strike, as they have, americans show over and over again that they can and will meet the challenge. the third hour of "varney & company" is about to begin. ♪ ♪ we can be heroes just for one
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day ♪ stuart: i think that's appropriate. that is "heroes," david bowie. we're seeing many heroes emerge. charles hurt is with us now, washington times political column arist, fox news contributor. do you agree with what i just said, we have a feeling of unease, we have taken a hit, but america as a whole has risen to the challenge? >> oh, absolutely. and the silver lining in all of these tragedies like this whether it's a natural disaster or a madman going berserk are the stories of people, you know, not the government doing anything, but people, people stepping up, helping others, risking their lives to help others. stuart: yep. >> it's the finest of america, it's the finest of humanity, and it's very important that we -- and the president has done a good job of this -- it's very important we focus on that a
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little bit. stuart: i just wish there was a more positive tone to the media's coverage of these events whether it's texas, florida, puerto rico or now las vegas. >> yeah. and, you know, you see politicians doing the exact same thing as the media, where they look at something like this. it's a heart-wrenching thing. people, they don't need any more blood, so many people are trying to give blood, but politicians and the media, they instantly want to try to score political points off of these things. and i think it's a big reason why donald trump got elected, is because he's not like that. he's not a politician. he doesn't do things in a calculating way like that. and instead he just wants to go and love these people and celebrate them. stuart: is it working? the tactic of the left is to show contempt for the president. does that work? did they gain support or does the president? >> no, i think they lose support. and they're not just trying to denigrate the president, they're trying to denigrate all the people who supported him and still support him. and i think he comes out of
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something like this -- not that this was his intention in any way -- i think he comes out of something like this with more support in large part because of the politicians trying to carpet on him. stuart: do you think you could transfer some of that increased support away from just hurricanes and las vegas and transfer it to the swamp so the president could get a bit more support for tax reform? is that -- am i -- >> it is my highest hope. from the beginning with donald trump, and the reason i liked him from the beginning is because i thought he could change the atmosphere, he could change the calculus of washington. and he's not a conservative. i'm a conservative. he's not a conservative, but i just want something different. i want them to behave differently -- stuart: have we got used to him? >> yeah. oh, no, no, no -- stuart: i have, you have -- >> washington has not gotten used to him. i think a lot more people are used to him, but people in the media and politics in both parties are still losing their mind every single day by his tweets or what he says.
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but most people, you know, when he's tossing the towels in puerto rico and saying that, most people look at him and kind of laugh. stuart: yes, they do. >> it's amusing. stuart: it's different. >> and he's genuine. they think he's being very genuine unlike hillary clinton or other politicians, and they're just so sick of those people. stuart: i think you're right. [laughter] hurt, you're all right. thank you for being here as usual. >> thanks for having me. stuart: let's get to the markets. look at this. this is the all-time high for the dow industrial average, average,22,702. same story for the s&p 500, the nasdaq composite, the russell 2000. it's been true every day this week. all-time highs, all down the line. and it's not stopped. you might think that there's no stopping this rally. it seems like that, doesn't it? but what happens to the markets, to your money if we don't get tax reform? good question to ask dan schafer, president and ceo of
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schafer asset management. and you, sir, are a permanent bear. wait, wait, wait, wait, wait. [laughter] you're the one who's come on this program for years and years and years and said the big crash is coming. you think that the crash is coming, the selloff is coming if we don't get the tax cut ors right? >> i think -- well, first of all, the tax cuts are not going to be good for the economy no matter what happens. it's less revenue to the government, and they're just not going to agree. i don't think this is ever going to happen. i think it's going to go through major statementings. here we are october, and they told us we'd have it in july, august, september -- it's just not going to happen. stuart: if we do get it and there are tax cuts, you don't think that stimulates the economy? >> no, because -- now, here's the whole picture. you cut the taxes, you have less revenue coming into the government. stuart: initially. >> right. part of the negotiation has to be to cut fiscal spending, okay? and this tax cut plan is all based on a higher gdp than 3%.
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now, the federal reserve, let's bring the market into this for a second. the federal reserve, the united states federal reserve, the ecb in europe and the japanese, the bank of japan are now, right now, in a hail mary, desperate situation to get inflation up. and the reason they're trying to do that is because of the debt, the amount of debt that the sovereign countries have cannot be sustained unless they get inflation to pay it with less dollars in the future. stuart: okay. >> that's their plan. stuart: so to you, the debt bomb is the -- >> oh, next year the southern debt is going to be in the headlines, you're going to be talking about it every day. you think puerto rico's a big issue? wait until the debt of all these countries that can't pay it back are going to be in trouble, and you're going to see the debt explode from a country point of view. stuart: okay. >> that's why the federal reserve -- let me tell you what goes on every morning. they jam the yen down around 5-7:00 in the morning, they try
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to push the futures up here in the united states. that carry trade, people need to understand and people on this network and other networks don't seem to get a handle on that. the japanese yen can be sold short against the u.s. dollar at zero cost, right? interest rates in japan are zero. stuart: you're lost them. -- you've lost them. >> i'm sorry. the money's coming out of the currency into the -- stuart: you see a debt crisis coming, no way around it. >> united states debt, european debt -- stuart: you're advising our viewers who hold stock, sell it. get out now, get into cash. is that your advice? >> i'm advising people that now is the time to lighten up, to put your stops in and get ready for a descending market that may spiral down for several years to come. stuart: okay. >> now, i'm not the only one. you've had david stockman, jamie rogers on here. i'm not even as smart as them, but it's very clear that this market going up is an induced program by the central banks of
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the world because they're desperate to get inflation up, and it's just not going to happen. stuart: debt bomb schafer, thanks for joining us. [laughter] i shouldn't say that. >> i appreciate it. stuart: thank you very much, come again. got to update this, tropical storm nate which could threaten the gulf, right now nate is off east of nicaragua, that's where it is now. flooding rapes expected -- flooding rains expected for central america. it could make landfall near louisiana this weekend. doesn't look like a major storm at this point. that could change though if the storm travels over warm water where it could be strengthened. obviously, we'll monitor and bring you up to speed on nate. got it. the former equifax chief finding himself in more hot water. richard smith, he made a speech a couple of weeks ago, and he said fraud is a huge opportunity. roll tape. >> fraud is a huge opportunity for us. it is a massive, growing business for us.
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stuart: you know, for a company which lost the personal information on 145 million americans, that is an oops moment, i suspect. coming up, we're going to be joined by the man who inspired the movie "the wolf of wall street," jordan belfort is with us. he pushed penny stocks defrauding investors of millions of dollars through a pump and dump scheme. that man is with us shortly. can't wait. ♪ ♪
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stuart: let's go straight to las vegas. our own jeff flock is there. jeff, what's this about police thinking that maybe paddock had another location for his shooting spree? >> reporter: well, they confirmed last night that he had rented a hotel room in las vegas at another location that overlooked another venue, another outside concert venue. but now we are learning -- and this is unconfirmed by fox at
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this point, but they're not denying it in chicago -- that he had booked a hotel room overlooking grant park in chicago which is where the loll pa lose saw music festival takes place each year with, like, 400,000 people. he booked high-floor rooms specifically overlooking the park in chicago, the hotel not denying that at this point. there's another report that he also scoped out a place similar in boston. so this would go to a level of premeditation that we were not previously aware of. stuart: yeah. so, jeff, his objective was mass killing, but we don't know the reason why he wanted to kill so many people. that's where we are. >> reporter: and there are theories that abound about that, but we have no hard evidence on that. and authorities, apparently, do not either at this point. stuart: it makes it -- that is unnerving, not to know why a man would do this. jeff flock, thank you very much,
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sir. we'll see you again soon. our next guest is a las vegas businessman. he has donated $400,000 to shooting victims. steven clue beck, the founder of diamond resorts. steven, good to have you with us, sir. >> nice to be here. thankthank you, stuart. stuart: your city, las vegas, it has taken a hit. it's going to recover though, right? >> las vegas is so resilient. i've been here for decades and decades. all the properties on the strip have unbelievable security teams that manage these hotels. you know, the first responders, the police, the fire, we have the best of the best in this city. we're an international destination, world class place, and we'll always be that. stuart: yeah. >> this is just a heinous crime by an insane individual. stuart: sir, you founded diamond resorts, and i really want to talk about hotel security here. we understand that wynn is using
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a wand and checking the bags of arriving guests, but you can't do that with all guests in all hotels for many, many years to come. what are you going to do about hotel security? >> no, stuart, i used to sit with the head of my hotel security teams a couple times a month, and we'd go through scenarios. and you could -- this was not even on the top ten list. there's so many other things that we deal with in hotels to keep them safe each and every day. and each of these properties on the strip do that. this is just a random act of violence, and this is not really the issue today. the issue is enough is enough. and i've said this before, and i know the president doesn't want the talk about this now, but i spoke with kevin mccarthy, i've spoken with cory booker. this is a bipartisan effort to get rid of automatic weapons. enough is enough. stuart: well, there is a bill that's about to be presented in congress which would ban these
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bump-stock devices which turn a rifle into something like a machine gun. is that what you're referring to? because there is bipartisan support for that, and that would ban -- >> well, that's, that's a wonderful start. and i'm not a politician, i'm an activist and a philanthropist, and i've got to tell you, it's a wonderful start, and i applaud that. but let's get the automatic rifles out of the way too. i mean, there's no reason people should have a thousand rounds of ammunition, let alone one, two or forty automatic assault rifles. it's -- you're not going to go hunting with that. stuart: if that's what you want -- >> and i'm a big gun enthusiast. stuart: i take your point, i know where you're coming from here. why doesn't the democrats, i mean, they're pushing for this, why don't they propose a bill to be what you suggest and let's have a conversation about it in let's debate? >> i've talked to a dozen senators, and everyone knows i'm
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pretty prolific in the democratic party in nevada, and i have proposed that. and i hope they take me seriously because i'm not going to give up on this one. i'm going to take on the -- you know what i'd really like to see? i would love to see the head of the nra have a debate in las vegas, come here, come look at the site and come talk to folks like mr. edelson and mr. wynn. i'd love to see everyone on stage talk about this and let's see what everyone's views are. because i'm not afraid, i'm not afraid, and you can't disagree this is a universal, i believe, issue on assault weapons. and people have had enough. stuart: okay. >> and i can't see that any hotel owner wants to see assault weapons continual hi to be legalized. stuart: okay. we understand -- steven, we understand, take your point of view. the great debate is starting, and you're part of it. steven clo to obeck, thanks for
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joining us, sir. >> thank you. stuart: okay. overseas now, let's go to spain. catalonia. may declare its independence on monday. now, spain's economic minister says, no way, you're not going to do that. spain's constitutional court has suspended the catalan parliament session which was scheduled for monday. they're trying to preempt any declaration of independence. and get this, the spanish military is moving hundreds of troops into the region to to help quell any violent protests. that is a big deal brewing there. in britain prime minister theresa may delivered a speech about the british dream turned into a nightmare from protesters to incessant coughing fits. we'll play you the clip. did you see this man peeking behind the former equifax chief during the senate hearing yesterday dressed as the monopoly man? it was not an accident. we'll tell you why he was there next. ♪ ♪
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embrace the physicality of getting the extra yards. does that -- >> it's funny to hear a female talk about routes, like -- it's funny. but fun is coming along, man. this is a big game for him. stuart: ooh, that was trouble. carolina panthers' quarterback cam newton causing a firestorm with the comment, making light of a female reporter's question at the news conference. the woman who asked the question is with the charlotte observer. she says she approached newton as he left the locker room a few minutes later, he did not apologize for his remarks. let's take a first look at the new england patriots' own private boeing 767 jetliner. the patriots are the first team to buy one of their own. they actually bought two, one of them is a backup. used planes like these typically sell for about $5.5 million on the open market. did you catch this at the
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equifax hearing? the monopoly man peeking out from behind the equifax guy himself? wasn't a man. it was amanda werner, an activist. she dressed as the popular board game mascot to protest equifax. she could be seen peering through the monocle and dabbing her brow with fake money throughout the hearing. all right. we'll talk more about equifax soon with the man who inspired the film "wolf of wall street," jordan belfort. remember, he served in prison for defrauding investor out of millions of dollars. and you heard it earlier right here, a republican congressman introducing a bipartisan bill to ban so-called bump-stocks. next we'll talk the united states concealed-carry association. >> some of the focus should be on thing ability or the -- on the ability or the practice of converting weapons that are semiautomatic into automatic weapons. that's what we want to prevent,
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22,712. how about that? politics, earlier this morning we spoke to a republican congressman who's introducing a bill the ban bump-stocks, that's the device used by the gunman in vegas. it can turn rifle into rapid-fire weapons. listen to what the congressman told us. roll tape. >> but after so many years of trying to reach a bipartisan compromise on gun legislation, it looks like we may have a breakthrough here. most members on both sides of the aisle understand that these bump-stocks are flagrant circumventions of current law. automatic weapons are banned in our country, and this device converts semiautomatic weapons into automatic weapons that can fire up to 800 rounds per minute. stuart: again, he is a republican, and he's got bipartisan support. this gentleman is tim schmidt, president and ceo of the u.s. concealed-carry association. look, i know this is not a concealed-carry issue, but
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bump-stocks being banned -- [audio difficulty] >> stuart, i think once the investigation is complete, i think we're going to have a lot to talk about. we'll have a lot to talk about in terms of the tool that this guy used as well as his mental state. but until that investigation is done, i think it's premature for the gun lobby to try to score political points. stuart: that's a hedge -- >> and really we should be focused -- stuart: that's a hedge. come on, that's a hedge. look, we know that the gunman used this bump-stock device, and that device enabled him to get into mass killing like a military-style mass killing operation. surely you've got an opinion, yes or no, ban it or not. >> so, stuart, i'm a firm believer that making, you know, banning a mechanical device does not make it go away. ultimately, what we're doing is we're shifting the blame from the person that actually carried out this horrible massacre, we're shifting it to a piece of plastic or a gun --
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stuart: yes, because that piece of plastic made it possible to do this mass killing in this way. >> i would argue that, i would argue that it could have been just as deadly had he not had the bump-stocks. the bump-stores, essentially, they make the rifles unbelievably inaccurate, and i really think we're shifting the focus away from what we should which is why did this guy do this. what is wrong with our society that creates people like in that want to do such horrible acts. stuart: so we can't do anything until we've found out what his motive was, which we may never know? >> not that we can't do anything, stuart, but i really think -- stuart: so what shall we do, tim in i'm sorry, i don't mean to badger you, but it would seem to me that the idea of banning a simple little device which turns a rifle into a killing machine, i don't think that's a difficult moral question. i don't have a problem with that. now, you can say i'm an unreformed englishman what doesn't understand america -- [laughter] but nonetheless, you know, you
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ask most people out there, and they will not have a problem with banning a device that turns a regular rifle into a killing machine. >> okay. well, certainly i understand that people's perspective on that, but my point here is that by simply making something illegal does not make it go away, it does not make it that much more difficult to get and, quite frankly, you can -- there's lots of different killing machines whether it's a vehicle, whether it's a truck. i mean, the guns he had in his room even without the bump-stocks certainly could be considered killing machines. sure, the bump-stock, i mean, in general it's considered almost like a fun thing to use by responsible gun owners. it's a horrible misuse of testimony that this guy did. stuart: okay. now, you're a conceal-carry guy, that's what you lobby for. >> yes, sir. stuart: i put it to you that had there been people in that concert crowd in will have who were carrying -- in 4r6 who were carrying concealed weapons, wouldn't have made any difference whatsoever. they couldn't have got a clear
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shot at the shooter. >> honestly, i'm sure there were lots of people legally carrying weapons in that area because i'm sure there were some off-duty police officers. and the fact that they had the discipline and didn't take shots that they shouldn't have taken is a great thing. but in terms of like your regular, average citizen, of course not. the gunman was shooting from an elevated position. he had an extreme tactical advantage. again, it was just a horrible, horrible misuse of technology and just a bad situation. stuart: tim, look, i want to make it clear, i'm a proud american, big supporter of the second amendment, no question about it. i don't take the european view at all. but i don't object to knocking out those bump-stocks. tim schmidt, president of the u.s. concealed-carry association, thank you very much for joining us, tim, we appreciate you being part of the debate. thank you. >> no problem, stuart, thank you. stuart: our next guest has a piece in "the wall street journal." look at that headline, gun control after las vegas. anyone who disagrees with the
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liberals' default position on guns is deplorable. i guess, dan henninger g who wrote the column -- that if i support banning the bump stock, i'm in the deplorable. is that right? >> no, you wouldn't be deplorable, stuart, but i'm not sure you're going to be doing too much to prevent the next mass murder. the problem with the gun control advocates is now they are going to produce legislation these bump stocks. let's assume that it passes. that will not satisfy be them. then they will move on to the next thing, perhaps banning large ammunition caches or something like that. but, obviously, this will continue to be -- there will continue to be killings of this sort, another orlando, say, or another virginia tech. and every time that happens the gun control people come back, and what is the ultimate logic of their position which is to confiscate more and more guns. and at that point they reach a point where most american people
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simply do not agree with them about that. that is clear from opinion poll after opinion poll. two years after the newtown massacre in connecticut, roper did a poll and they found that more people actually were many favor of people having guns to protect themselves than opposing the banning of handguns. stuart: this is fascinating. your article, having read it, you're talking about the high moral ground which liberals assume and then look down on everybody else and cast moral aspersions on everybody else because they don't agree with them. that's your point, isn't it? >> that's exactly my point. that's what happened monday night. every late night talk show host, the comedians, were coming out for gun -- jimmy kimmel, stephen colbert, all of them. why don't we have gun control at the white house, sarah huckabee being pestered. they're taking the assumption that everyone in the country agrees with them on this high moral ground, and that's not the
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case. i think that's why democrats keep losing things like presidential elections. it's not just donald trump's impact on voters in michigan and wisconsin, it's because the democrats can't see the country clearly. people aren't survivalists. they aren't gun nuts, but they do understand they want some form of protection, and that's what progressives don't understand. stuart: they want to make america like europe, i suspect. they're in love with the european vision. >> i think what is clear now is progressives have an entirely different view of security than most people. i'm talking about personal security, protecting your neighborhood, even the country, military defense. they have a benign view that you don't need so much police. i mean, what have they been doing in the last two years? attacking the police, they want less military spending, they want guns banned, and i think most americans want a significant degree of security and protection, and that includes owning your own gun. stuart: i think you're right, dan henninger, right again.
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thank you, sir. and now this, ooh, prime minister theresa may, britain's prime minister, delivering a big speech about the british dream -- this is at the conservative party's conference, she was giving the key note speech. it went right off the rails when she was interrupted by a prankster and a coughing fit. you've got to watch this. >> so why we will never -- excuse me -- while our opponents lurch with the foreign policy of neutrality and prepare for a run on the ground, some people say we've spent too much time talking about jeremy corbyn's path. in all its diversity, compassion and strength that was shared around the globe. stuart: you may have missed that in the background, some of the letters on the sign in the background fell off. >> it was the party slogan,
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building a cup that works for you, i mean, it was just a complete shambles from beginning to end. stuart: and the paper that was handed by the prankster, that's a p45 by a -- >> he was detained by the police. it was supposed to be her return after the disastrous snap election, right? >> key note address at the party conference. stuart: but wait, there is more from europe. sit right there, henninger. catalonia moves to declare independence from spain. they may do this on monday. >> yes. during a parliamentary session in catalonia which a constitutional court just in the last hour in madrid has said, no, you cannot open the parliament building on monday. so now we're in a standoff. we haven't had a response from the catalonians whether they will go forward with that session where they are, indeed, expected to declare their independence. i mean, this is a generational constitutional crisis in spain that no one ever thought it would get to this stage. but the spanish government has
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troops on cruise ships right now waiting there, and you can see they came in on sunday for the actual vote for independence which was deemed illegal by madrid. tensions are rising. this could get very, very ugly -- >> it's outrageous. it's outrageous. stuart: watch this show on monday morning and find out what happened in spain. >> there you go. stuart: got it. next up, jordan belfort immortalized in "the wolf of wall street" movie. we've got a lot to talk about with him including the power of persuasion. stay right there. ♪ ♪ i don't want to sound paranoid, but d'ya think our recent online sales success seems a little... strange? na. ever since we switched to fedex ground business has been great. they're affordable and fast... maybe "too affordable and fast." what if... "people" aren't buying these books online,
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♪ ♪ >> i'm nicole petallides with your fox business brief. a close look at netflix, an all-time high for the company's stock, 192.80, still holding on to much of those gains and raising prices. this is the key, they're trying to boost their revenue. also they've had a lot of rising costs for original content. and they're increasing the monthly subscription fees for two of their plans. the 7.99 basic plan stays the same, but the other two go higher, the standard from 9.99 to 10.99, the people from 11.993
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to 13.99. netflix has been paying for original content the deals that they have to stream out to their over 100 million subscribers who expect new and original content. also the company, as its value is worth more than many of the other media companies. hi, i'm the internet! you know what's difficult? adulting... tj! get a job! hi, guys. i'm back. time to slay! heals, heals, heals! yes! youuuu! no, i have a long time girlfriend. mom! i need my macaroni!!! you know what's easy? building your website with godaddy.
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pick a domain name. choose a design. you can build a website in under an hour. yeah! whoo! yes! get your domain today and get a free trial of gocentral. build a better website in under an hour. stuart: news from the house. they are now voting on the budget framework. this is the first step towards getting tax reform done. by the way, the senate needs to pass this with 50 votes to avoid
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a filibuster which would need 60 votes to break it. got that. dow's up 64. our next guest was immortalized in the film "the wolf of wall street." his name is jordan belfort. he defrauded investors out of millions of dollars with a pump and dump scheme. that was way back then. here's a clip from the movie. roll tape. >> the look what i found in my pocket, look. a year's salary right here. you know what i call them? up fun coupons, glea fun coupons. stuart: did that get your attention? it certainly got mine. jordan belfort is mine, he's the author of this book, "the way of the wolf." great to see you with us, welcome to the program. >> thank you, thank you, thank you. stuart: okay. i want to talk equifax. >> okay. stuart: executives sold their stock in equifax before the data breach was made public. is that suspicious to you? >> right. stuart: a former fraudster, if i can put you like that?
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[laughter] >> sure. well, i mean, it's suspicious. i guess you'd want to see if they had a normal program of selling stock every quarter, every year. so like sometimes like, you know, people who have large blocks will do that, but that will be a continuous sell. if all of a sudden they just dump stock, that's really, you know, a very telling sign. stuart: may i ask, how long did you spend many prison, how long have you been out? >> okay. stuart: did you go to prison? i don't know, did you go to prison? i don't know. >> yeah, yeah. stuart: you did? >> i did. 22 months in prison. >> okay.i got out ten years ago. i started writing my new book, "the way of the wolf," which just came out last week which is basically on how to close the deal. stuart: you are still paying restitution to the people you defrauded -- >> oh, yeah, absolutely. my goal is to pay everything off. i'm paying every month, and that's a good thing. stuart: how are you making a
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living other than writing a book? >> i go around the world, and i teach a system called straight line selling which is basically a persuasion system built for sales people and non sales people. i think one of the biggest mistakes non-sales people make is they think sales is only for sales people. we're always selling ourselves and our ideas and concepts, so i go around the world teaching that system in front of audiences, i do consulting and so forth. stuart: all right. isn't there a clip in the movie, "the wolf of wall street," you, are saying make me buy this pen, make me buy this pen? i think that's right. >> i'm actually -- yes, yes. the irony is that i'm the emcee announcing leo, who's playing me, and he comes out and says sell me this pen at the end of the movie. so the straight line is based on that. you know, one of the biggest mistakes people make when they sell is they try to talk, talk, talk rather than starting off asking questions. the first step is you want to take control of the sale, and we
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show you how to do that and in my system which is sound like an expert, on the ball, sharp, and then you use that to ask questions, identify someone's needs and then transition into your solution and so forth. finish so it's a very elegant system, and i'll say this, you know, it's been effective with people all over the world in all walks of life, and the key is use it elegantly and ethically. and that was the mistake i made many years ago. stuart: yeah. is it ethical? i mean, a technique, a sophisticated technique that sort of goes round reality a little bit, use a lot of persuasion. is that strictly speaking ethical? >> 100% ethical. in fact, i'm sure many of your viewers have probably read the book, it's selling really well, but i'm talking about ethics and integrity the entire time. listen, i lost everything because i lost my ethical way, and success and ethics are not mutually exclusive. in the book i show you a system that is about being 100% honest, and it starts with one premise
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which is that you don't want to be selling things to people that are not going to benefit them or selling in quantities that are going to hurt them. so if you go out with the premise of only going to sell to people who need my product, who can benefit from my product, i'm not going to try to oversell too much of to it, that's a great place to start. stuart: how do you do it? >> personally? stuart: yeah. >> i mean, i have a wonderful partner, a woman, my fiancee, and we're together for about ten years. really i'm living a very nice life right now, quiet, much more sedate than you saw in the movie. and i'm tell you, the book took me two years to write, so i'm so glad to be done with the book. i'm a very slow writer. but i'm feeling great. i'm keeping myself healthy -- stuart: but do you miss it? >> -- my kids are healthy too. stuart: there's a certain level of real excitement when you get real money in your hand as we saw in the movie clip there. do you miss it? >> you know, honest, listen, i do well, i do well. i pay back a lot of my investors, i do well, but the
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thing is i'm a lot happier now, a thousand times happier than i ever was back when i was addicted to drugs and going crazy. things that make sense at 25 don't make a lot of sense at 55. so my life today is basically about, you know, staying home and watching, i mean, it's the prime of tv right now, great tv shows, ordering this food and also going around the world. and i get my rush going around speaking for large audienceses and by teaching the system that's in the book. that's really my rush, when i get to go out there and share the idea with many, many people around the world. stuart: you know, you never lose the desire for the rush, do you? you never quite lose it. you just get the rush in a different way, right? >> well, there's $100% -- 100% correct. there's a sustainable way which is how i do it now which is ethically empowering people versus with drugs and women and everything else and not abiding by the law. that's not sustainable. frankly, if i could go back and change that, i would change some
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of my behaviors, for sure i would. stuart: how accurate was the movie? >> of course.the movie was very accurate in the front half. where it got a bit unaccurate is there's a scene where i say i'm lev leaving, leaving. that's not true. i actually left when i gave that speech. so then it yets a little bit haywire. but i think the feeling of it, the intensity -- i have the commend marty for directing the movie and leo, i mean, he's utterly amazing. obviously, i wish the movie was about me discovering the cure for cancer, but what can you say? you take the good with the bad. stuart: it was a pleasure having you on the show, jordan. you can come back anytime. >> thank you very much. stuart: the house has approved a budget framework. it passed. >> good news. stuart: that's veried good. look at the market. >> yeah. stuart: we're now up 78 points, well above 22,700, for heaven
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sake, only 250 points away from 23,000, and i have to believe the house approving the budget framework is a plus. >> and the debate is still about the state and local property tax deduction, maybe we see a tax bill by christmas. that would justify this market runup, because we're you shouldpushing on -- we're pushing on to -- stuart: i don't know what was many that budget framework. >> we don't know either. >> the house has to reconcile with the senate version and all that stuff, but it's a good first first step. stuart: the dow is now up 75 points. i cannot do the calculation, i wish i could, but i believe that the value of all stocks as of right now is up, i think, almost -- i think it's now $5 trillion up from where it was on the day of the election. >> five trillion. >> up five trillion. and put that in perspective. the dow is up about $28 trillion, 29 trillion since the
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collapse in march of 2009. that means about a sixth or so is just since president trump won. stuart: yeah. that's the trump rally, is it not? yeah, that's right. stuart: 22,738. all right, excellent next guest for your approval. [laughter] one of the fastest growing cruise lines in the world, viking cruises. austin hagen is with us. you're the ceo, i believe. is that correct, sir? >> yes. stuart: ceo of viking cruises. >> indeed. stuart: i live in hobokenen, and one of your cruise liners -- >> we came in yesterday, and it was a beautiful day. stuart: okay. now, have you got concerns about safety and security? you must have. >> it's d when you're in the travel industry, that's, of course, what is top of your mind all the time. we are, but i think we have a very new fleet, we take very good care of our guests, and i think we are the most advanced you can get. stuart: now a real problem, surely, is hurricanes. >> yes.
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stuart: this is hurricane season still -- >> been terrible. stuart: terrible. you can't do anything about it, can you? you can't tell when they're coming. >> no. we have been lucky, because most of our ships are in europe, and we haven't within to the caribbean yet but, of course, it's a terrible thing for people affected. we'll be down there end of the month. we have a few cruises down there. stuart: now, do you deliberately avoid the caribbean because of the hurricane seasonsome. >> no, i think viking is a special cruise line. we are different from ohs. we are very much oriented at destinations. the big guys are very much oriented at the ship is a destination, they want to entertain people onboard. we are concerned about where the people go, what do they see, what do they experience. so by nature, we are more oriented towards europe. so even now in the winter we have ships in the mediterranean. and the see rome in january is not bad thing, you know? you don't have all the tourists there. stuart: true. [laughter] so why are you going to take
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americans and tourists in general to cuba? >> well, that goes in the experience. stuart: the united states of america, we don't like communist regimes. >> this is experience. our company, viking cruises, we celebrate our 20th anniversary this year, and we started the company in russia 20 years ago buying four old russian cruise ships for $8 million. stuart: you're kidding? viking cruise line is the is only 20 years old, and you started 20 years ago with four ships that you got from the russians? >> yes. stuart: how many ships do you have now? >> now we have 65 ships concern. stuart: 65? >> and we have four ocean ships and growing. be so you can say what was worth $8 million when we started i can say we are very proud today i think we're worth $3-$4 billion, and this is only over the course of 20 years. stuart: no wonder you're smiling.
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you look happy -- >> happy is not my position description. [laughter] but i think i guess i'm very happy. we have a great product. and the amazing thing is when we started the ocean business -- because we are small ship experts. the ships by nature is small so you can go from moscow to st. petersburg is wonderful, you go on the rhine and danube rivers, you start in amsterdam, you go vienna, travel into budapest, it's a phenomenal way of seeing europe. so we started that and, quite frankly, we have almost invented river cruising -- stuart: yes, you have. >> -- and have 50% market share. stuart: that's why you're on the show, because you have a huge share of river cruising and you started 20 years ago with just four ships. congratulations. >> thank you. stuart: great to have you on the show. come again. >> thank you very much. stuart: there will be more "varney" after this. ♪ retirement squirrel from voya.
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>> the issue is enough is enough. i said this before. i know the president doesn't want to talk about this before. i spoken have kevin mccarthy, i spoken with cory booker. this is bipartisan effort to get rid of automatic weapons. enough is enough. stuart: we're running that, that was stephen claybrook on diamond resorts. many responded. you our viewers are correct. the federal assault weapons ban is a subsection of the violent crime control and law enforcement act 1994, which includes a ban on manufacture for civilian use of certain semi-automatic firearms and certain large capacity ammunition magazines. so our guest was incorrect. our viewers were right about the existing ban assault weapons,
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semi-automatic weapons. i'm glad we cleared that up. we hate to confuse the viewers. we have a whopping great big rally. as we speak, we're up the high of the day, 82 points up. 22,744. our time is up but neil, it is yours. neil: you're right. we have all the laws on the books, right? half the trouble, we don't enforce them. stuart: i wasn't sure of the exact terminology of the law from 1994, i didn't correct him on the air but correction was due. neil: i would never do it myself. i mean i would never correct myself. stuart: we know that. neil: thank you very much. we're following developments because we're these. stephen paddock switched rooms. he didn't end up in two ped room

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